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Tuesday, December 13, 2016
Shell in Egypt said it will shut in production at its Rosetta field on the Rashid Concession due to lack of payment by the Egyptian government. The field, which produces at a rate of around 40 Bcf/d of gas, will be shut in from July 2017.
A source at EGAS said that the development of Rosetta gas field required significant funds. However, the field is not proving economically viable to the foreign partner at the current gas price, according to Al Borsa.
The Rosetta field was originally discovered and developed by BG Group. Shell inherited the field when it took over the UK-based firm earlier this year.
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